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HomeMy WebLinkAbout2352 be necessary or appropriate in connection therewith, (f) to adjust, bring suit at la~v or in equity for, settle or otherwise deal with any taking of any or all of the premises for public purposes as aforesaid or any claim for real or alleged harm or damage as aforesaid and to execute and/or render any and all instruments deemed by Assignee to be necessary or appropriate in connection therewith, and (g) to adjust, settle or othewise deal with any abatements and to execute and/or render any and all instruments deemed by Assignee to be necessary or appropriate in connection therewith; hereby granting full power and authority to Assignee to use and apply said rents, losses or rebates, damages and/or abatements to the payment of any taxes, assessments and charges of any nature whatsoever that may be levied or assessed in connection with the premises. to the payment of premiums on such policies of insurance on or in connection with the whole or any part of the premises as may be deemed advisable by Assignee, to the payment of any and all indebtedness, liability or interest of the undersigned and/or those secured by the Loan Documents, whether now existing or hereafter to exist, to the payment of all expenses in the care and management of the premises, including such repairs, alternations, additions and/or improvements to the premises or any part thereof, as may be deemed necessary or advisable by Assignee, to the payment of attorneys' fees, court costs, labor, charges and/or expenses incurred in .connection with any and all things which Assignee may do or cause to be done by virtue hereof, and to the payment of such interest on the indebtedness or on any of . the foregoing, if any, as may be deemed necessary or advisable by Assignee; also hereby granting to Assignee full power and authority to make contracts for the care and management of the whole or any part of the premises in such form and providing for such compensation as may be deemed advisable by Assignee, and for the performance or execution of any or all of these presents, to constitute, appoint, authorize and in its place and stead put and substitute one attorney or attorneys, and/or the same at its pleasure again to revoke, and to do, execute, perform and finish for Assignor and in Assignor's name all and singular those things. which shall be necessary or advisable or which Assignor's said attorney or its substitute or substitutes shall deem necessary or advisable in and about, for; touching or_concerning these presents or the premises as thoroughly, amply and fully as Assignor could do concerning the same, bring personally present, and whatsoever Assignor's said attorney or its substitute or substitutes shall do or cause to be done in, about or concerning these presents or the premises or furnishings or any part of any of them Assignor hereby ratifies and confirms; and also hereby granting to Assignee full power and authority to exercise at any and all times each and every right, privilege and power herein granted; without notice to Assignor. TO PROTECT THE SECURITY OF THIS ASSIGNMENT, IT IS COVENANTED AND AGREED THAT: 1. Assignor represents and warrants: That Assignor is the owner in fee simple absolute of the said premises and has good title to the leases and rents hereby assigned and good right to assign the same, and that no other person, firm or corporation has any right, title or interest therein; that Assignor has duly and punctually performed all and singular the terms, covenants, and warranties of the existing leases on Assignor's part to be kept, observed and performed; that Assignor has not previously sold, assigned, transferred, mortgaged or pledged the said rents from said premises, whether now due or hereafter to become due; that any of said rents due and issuing from said premises or from any part thereof for any period subsequent to the date hereof have not been collected and that payment of any of same has not otherwise been anticipated, waived, released, discounted, set off or otherwise discharged or compromised; that Assignor has not received any funds or deposits from any lessee in excess of two months' rent for which credit has not already been made on account of accrued rents; and that the lessee under any existing j lease is not in default of any of the terms thereof. ~ 2. The terms of the aforesaid leases will not be altered, modified or changed, nor will said leases be ~ surrendered or cancelled, nor will any proceedings for the dispossession or eviction of any lessee under said 1 leases be instituted, without the prior written consent of Assignee. 3. No request will be made of any lessee to pay any rent, and no rent will be accepted, in advance of 1 the dates upon which such rent becomes due and payable under the terms of the above-mentioned leases, it being agreed between Assignor and lessees that rent shall be paid as provided in said leases azid not otherwise. 4. Assignee grants to Assignor a license to collect and retain the rents under the said leases unless and until there is a default in the performance or observance of the terms or conditions of the Loan Documents and Assignee reserves the right to enforce the collection thereof by any appropriate action or proceeding brought in the name of Assignor. 5. Upon default under the terms of said Loan Documents or of this Assignment, or at any time after such default, Assignee, its successors or assigns, at its or their option and without further consent thereto - by Assignor or any subsequent owner of said premises, may enter in and upon said premises and take possession thereof, and collect the rents and profits thereof, and do every act and thing that such Assignor or any subsequent owner of said premises might or could do. g 6. Upon curing all defaults Assignor, its successors or assigns, shall again be entitled to collect and retain the rents under the aforesaid lease or leases. d 7. Upon payment of all indebtedness evidenced and secured by the Loan Documents this assignment shall be rendered null and void and the said lease or leases shall be reassigned to the then owner in fee of said premises or to such person or persons as said owner may direct by written notice. 8. Assignee shall not be responsible for the control, care or management of said premises, nor for ~ carrying out any of the terms and conditions of said leases, nor for any waste committed or permitted on ~Qax3U4 ~A~E2349 r .ti S~ i - - - ?